Don't miss

Replay


LATEST SHOWS

THE WORLD THIS WEEK

Yemen, the Escalation; France's Three Way Race; Clarkson Shown the Exit (part 2)

Read more

THE WORLD THIS WEEK

Germanwings Crash; Co-pilot 'hid illness' on crash day (part 1)

Read more

#THE 51%

The extraordinary tale of the Egyptian mother who lived as a man

Read more

REPORTERS

Video: San Cristobal, Venezuela's tinderbox

Read more

FRANCE IN FOCUS

France's chronic umemployment problem

Read more

FOCUS

Portugal: Anger at corruption scandals, one year after bailout

Read more

YOU ARE HERE

Bistronomy: Stylish and simple eating

Read more

THE INTERVIEW

Erdogan: 'Turkey may provide logistical support to Saudi-led operation in Yemen'

Read more

#TECH 24

Singularity University: Plotting a high-tech future for humans?

Read more

Europe

IMF warns Greece that more action is needed on debt

Video by Aurore Cloe DUPUIS

Text by News Wires

Latest update : 2011-09-19

The IMF told Greece on Monday that "additional measures" were required to reduce its budget deficit ahead of an urgent consultation with the EU and the country's finance minister, Evangelos Venizelos (pictured), on more rescue funds.

AFP - Greece will have to do more to cut its budget deficit, the International Monetary Fund warned on Monday as the IMF and EU headed for a crisis teleconference with the Greek finance minister.

"Additional measures will be needed in order to reduce the budget deficit," the IMF representative to Greece Bob Traa said at a symposium in this seaside resort near Athens in the presence of the Greek Finance Minister Evangelos Venizelos.

Speaking at a conference between the IMF and Greek business leaders organised by The Economist magazine, he said that Greece should launch urgent reforms of its tax administration and warned the government against constantly raising taxes.

Is a Greek default an option?

His remarks came shortly before a teleconference between the minister and auditors from the eurozone and IMF who have yet to decide whether Greece has repaired broken promises enough to warrant the release of rescue funds urgently to avoid bankruptcy early next month.

The teleconference is to be held at 1200 GMT, and Venizelos said on Sunday that it would be followed by a ministerial meeting to decide on new concrete budget measures.
 

Date created : 2011-09-19

  • GREECE

    Greek PM cancels US trip ahead of crucial week

    Read more

  • GREECE

    Germany, France say Greece 'integral' to eurozone

    Read more

  • GREECE

    Greece unveils €2 billion in cuts to secure EU/IMF bailout

    Read more

COMMENT(S)